Posts about Algorand
https://algoexplorer.io/transactions
Take a look it's easy to see all the Binance transactions.
Algorand TPS has almost doubled. Over the last year or so Algorand would generally process 800k to 1.2M transactions per day, over the last 24H Algorand has processed 2.2M.
This is honestly huge, as a huge Algorand fan I've been waiting for Algorand Standard Asset integration into centralized exchanges forever.
Now that USDCa is added, any and all ASA's on Algorand can be added as well.
This is a huge moment for Algorand and USDC.
Additionally, the annual Algorand event called Decipher is featuring Sam Bankman-Fried of FTX and Benjamin Ampen of Kraken MENA(Middle East + North Africa) and Richard Teng of Binance MENA.
https://decipher-dxb.com/speakers.html
Big things happening globally with Algorand that we are unaware of?
FIFA is right around the corner. I'm sure FIFA wants easy on/off ramps for their NFT marketplace built on Algorand.
Either way, this opens up HUGE opportunities for large businesses to move USDCa around easily.
The Algorand shillers have been relentless about the future of the project lately. I do not believe it has a future. This is the opposite of an Algorand shill post.
I do not hold ALGO. This is why. TLDR - just read the bold headlines.
Inflation - 27% increase
The Inflation of a coin is simply the rate at which it is currently increasing its supply every year. I.e. If a token has a 2% inflation rate, then one year from now, 2% more tokens are available to buy.
One year ago, Algorand had 5,460,295,593 coins in circulation. Today it has 6,927,212,643. This represents an increase of 27%. Factoring in the estimated staking rate of ~5%, it means the token loses more than 20% of its value every year.
(The coin has an inflation rate of 95% if I take the value from 54 weeks ago, going from 3.5bn tokens to 6.9bn in the past year.)
Daily Active Users - 97% drop
This is simply the number of addresses on the blockchain that perform at least one transaction on a particular day.
During the bear market, all projects lose users. Algorand has lost a lot of its daily active users, dropping from over 1,773,000 to just 60600. This represents a staggering 97% drop in active users. In the same time frame, Ethereum has dropped 14% (and that doesn't even include layer 2 protocols like Arbitrum).
This statistic is so bad, it is not even available on the explorer - they only list the total accounts. I had to get the real data from Messari.
Messari - Algorand Daily Active Addresses
MarketCap Rank - dropped 11 spots
This metric is market value size of the cryptocurrency relative to all other cryptocurrencies. One year ago, Algorand was ranked as the 18th largest crypto. Today it is 29th - a drop of 11 spots.
The CEO quit - he got bored
Obvious. But the CEO left the project to pursue other interests. Historically, any time a CEO leaves a project, it has rarely, if ever, held its value. See Loopring or Fantom...
Decentralisation - not too bad
The level of decentralisation for Algorand is unneccesarily convoluted. The easiest way to consider its level of decentralisation is two factors:
The Nakamoto Coefficient is estimated to be between 13 and 15, which puts it well behind its competitors. Avalanche 30, Solana at 31, Polkadot 82
The number of active validators is 370. Cardano at 3500, Ethereum 411,000
Scalability - copied another project's idea
Algorand 'solved' the scaling problem by copying what Bitcoin cash did - and somehow made it worse. They simply make bigger blocks, but they sacrificed efficiency. Bitcoin Cash creates 32MB blocks every 10 minutes - Algorand requires ~ 800 MB to accomplish the same task. Basically, it requires 25x more data to process transactions than a five year old crypto.
Finally, the shill posts...
Some users may be aware, but it is long believe that some projects employ paid shillers. Literally people that post information in a positive light consistently. It is my belief that Algorand is guilty of this. Please understand, that this is purely speculation and I have no evidence. I would be happy to point out specific users and link posts that I am adamant are paid advertising by Algorand. But out of respect to the subs rules, I will abstain - but if a Mod approves it, I have it ready to go.
EDIT:
Lots of people accusing me of not having the balls to respond to the comments.
I actually responded to several of them, but most of my comments got downvoted into oblivion, so I just gave up. If you want to debate, that’s cool, but apparently you only get toddler tantrums from ALGO shillers.
I tried responding to this comment, but my response got destroyed by the paid shillers, so I’ll put it here..
If you want to take the snapshot of the market cap position on the date in your comment, go ahead, but then you also have to take the token supply on that date too, so enjoy the 95% inflation rate that goes with it. *
If reading comments, I suggest sorting by controversial.
I think we can all agree that tps numbers can be hard to compare between chains. Some chains can pin 10000s of native token transfers, but things get weird when you start to compare smart contracts.
I posted about this metric in the Algorand subreddit for determining throughput of different blockchains in the fairest way possible. That is using an AMM “uniswap-style” swap as the benchmark.
The authors of the medium article linked in my original post tested the smart contract throughput of some of the top smart contract platforms empirically, and they found that these chains to have the following AMM-swap tps limits:
Solana Mainnet Orca - 273 swaps
BSC pancakeswap - 195 swaps
Polygon quickswap - 95 swaps
Axax Trader Joe - 176 swaps
Celo Ubeswap - 50 swaps
Ethereum uniswap v2 - 18 swaps
Now Algorand can handle 1625 AMM swaps per second on Tinyman.
For reference that is:
6.0x more than Solana
8.3x more than Binance
9.2x more than Avalanche
17x more than Polygon
32.5x more than Celo
90.3x more than Ethereum
Algorand's new upgrade reduced block times from ~4.5s to ~3.8s per block, and there has already been a block with 25k transactions in it on the mainnet which translates to approximately 6500 tps.
Thanks to the insight of /u/abeliabedelia, based on the opcode budget limit for each transaction, it was determined that a tinyman swap requires 4 transactions, which means that Algorand’ TPS divided by 4 is approximately equal to its ability for smart contracts per second. (6500/4) = 1625 swaps per second.
And a special thanks to /u/sdcvbhjz for actually empirically checking and confirming the transaction count to be 4 standard transactions for each tinyman swap.
Edit: added words
https://defillama.com/chains/Non-EVM
https://defillama.com/chain/Algorand
As you can see Algorand TVL is hugely green with most other chains losing TVL.
FTX just added USDC-Algorand, allowing easy on/off ramps for USDC to Algorand. This eliminates the need to swap USDC to ALGO on DEX's before cashing out. This is huge for big institutional players and I expect to see many companies utilize USDC on Algorand because of it's superior L1 technology to Ethereum and Solana. Algorand currently processes the same amount of daily transactions as Ethereum with the capability to do much more. With its recent upgrade to 6000 TPS, <4s finality, Quantum-Resistant Falcon Keys and State-proofs that allow for decentralized bridges. Algorand is looking like the leader in blockchain technology, take a look at this chart:
Comparison between top L1 Smart Contract platformsIt seems Algorand may be entering the public consciousness. I expect Coinbase and Kraken will be following suit and adding USDC-Algorand as well. Exciting times for Algorand.
Interesting timing as FIFA Plus Collect just launched its market place and genesis packs, these NFTs and marketplace are exclusive to the Algorand blockchain and they also allow you to buy packs with USDC-Algorand only.
Another reason to be bullish about Algorand is its tokenomics, of which many falsely label as bad, when in reality it has some of the best. As you can see in this chart its true total supply is right behind Bitcoin.
Comparison between true total crypto supplies.EDIT #1: The AMA will start at 3pm EDT! For some reason the Reddit counter is showing the wrong start time (even though the timezone_bot is working correctly).
EDIT #2: WE ARE LIVE!
EDIT #3: The AMA is now over and I want to thank the Limewire team for joining us in this amazing AMA, and of course, I also wanna thank our AWESOME community for all the questions and engagement! Go ALGO!
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ALGO fam, welcome to our AMA - Ask me Anything - with the Limewire team!
You can start posting your questions now and the Limewire team will respond all they can for one hour starting at 3pm EDT today.
This AMA will be held by:
u/estantef - Host, Head of Product Marketing at the Algorand Foundation
u/cysec_ - Host, Digital Community Champion at the Algorand Foundation
u/HashMapsData2Value - Host, Digital Community Champion at the Algorand Foundation
u/ferdinand993 - Marcus, COO at Limewire
u/numa_lag - David, CTO at LimeWire
u/tilenke - Tilen, Head of Growth and Community at Limewire
But first, learn all about Limewire below!
LimeWire - once a hugely popular p2p file sharing tool with 50M active monthly users, re-invented itself in 2022, with new founders and a new vision. We closed the private round in April (10.4M) with investors like: Kraken Ventures, Arrington Capital, GSR and many more. In June we struck a global partnership with Universal Music which allows us to work with any of the artists under their umbrella.
Currently LimeWire is a NFT marketplace focused on Music NFTs but soon expanding into other fields as well. The underlying blockchain used for the vast majority of the drops is Algorand.
Currently live drop on LimeWire (and on Algorand): Slushii
Join our Discord community where we run weekly quizzes and Royal Rumbles with ALGO as rewards: here
Follow us on Twitter: here
Meet the Limewire team!
Marcus is COO at LimeWire. Prior to that, he was the Country Manager D/A/CH at Bitpanda, where he managed the largest market of Europe’s leading crypto broker with over 3 million users. Additionally, he has experience as Management Consultant at Boston Consulting Group (BCG) with a focus on digitization and FinTech projects.
Tilen was born and raised in Europe, in growth/marketing since 2010 and crypto since 2013. Helped grow Bitpanda from 100 to over 1000 employees and over 3,5 million users before joining LimeWire in April 2022.
David is the CTO at LimeWire. Before building LimeWire he was the CTO of ZeroSSL and Head of DevOps for Market Group where he already gained some experience in developing and running digital marketplaces. Having a strong background in backend development and DevOps, David was excited to be able to venture into the crypto space.
EDIT #1: WE ARE LIVE!
EDIT #2: Thank you Vendible team and Algo fam for another amazing AMA! So many great questions and excellent answers.
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ALGO fam, welcome to our AMA - Ask me Anything - with the Vendible team!
You can start posting your questions now and the Vendible team will respond all they can for one hour starting at 2pm EDT today!
This AMA will be held by:
u/dmbrought, Doug Broughton - CEO at Vendible
u/gloomy-room-3116, Gwin Scott - COO at Vendible
u/LifeWithtiffiny, Tiffiny Dixon - Head of Marketing at Vendible
u/estantef, Head of Product Marketing at the Algorand Foundation, Host
u/cysec_, Digital Community Champion at the Algorand Foundation, Host
u/HashMapsData2Value, Digital Community Champion at the Algorand Foundation, Host
But before we get stated, learn all about Vendible below!
Vendible is building DeFi infrastructure that directly enables data security and asset controls for open blockchains and web3. Privacy-preserving zero-knowledge proof accounts keep your data and finances from prying eyes while ensuring you have full control of your data and assets. Integrated identity ensures that you still know who you're dealing with, even if they are anonymous, and losing keys doesn't mean losing funds.
Trustible is a fully cross-chain (BTC, ETH, ALGO, SOL, MATIC, etc.) product with only one job; protect your private keys from loss. Trustible uses zero-knowledge technology and decentralized identifiers to secure your most critical data. Suppose you lose access to your device and seed phrase - no worries. The recovery process will send your encrypted keys from the identity vault in decentralized storage. No one ever sees, stores, holds, or has access to your keys in this process, including Vendible. Trustible stores no data in centralized services. This sovereign system provides more security and less friction than social recovery wallets proposed by other projects
And also, meet the Vendible team:
Doug is the CEO of Vendible. Doug has a background in corporate management at FedEx with a focus on process improvement and servant leadership. With a background in mechanical engineering and sustainable design, Doug is constantly looking to create solutions that improve efficiencies and help remove friction so people can focus on what is most important in their lives.
Gwin is an entrepreneurial leader with core skills in COO/leadership areas with experience scaling in nascent industries. Direct experiences in P-L and senior level functions in Business, Operations, and New Market Development, Revenue Acceleration, Sales/Sales leadership, and Strategic Alliances in both US and International markets.
Fully focused on Defi/tokenization/digital wallet applications/decentralized identity and privacy preserving smart contracts. Prior Domain knowledge in technology (SaaS/Fintech/Fraud), healthcare/medtech, and cable/telecom in both enterprise and early stage companies. Big goal is to bring decentralized business models and adoption to everyone.
With a background in public relations and project management at large banks, Tiffiny transitioned into marketing and dynamic communications to help make a greater impact on the world. She is adept at building relationships with clients and communities to maximize connection and drive sales.
Make sure to follow Vendible and check out their TestNet and Ible City NFT Collection:
Social channels: https://linktr.ee/vendible
Trustible testnet registration: https://registration.vendiblelabs.tech/
Ible City NFT collection on ALGOxNFT: https://algoxnft.com/full-collection/ible-city